Three Tips to Make It Easier to Pay for LASIK

Receiving LASIK is an investment in the health of your eyes with long-lasting results, and finances don’t have to be a barrier to the desired treatment. The average price for laser-based vision correction in 2013 was $2,073 per eye. Fortunately, with medical financing and pre-tax savings plans, there are multiple payment options to ensure that you can afford to move forward with the life-changing procedure.

1. Check your insurance coverage

A majority of vision and health and insurance providers consider LASIK an elective procedure. Therefore, it is not eligible for insurance coverage. However, many health and vision insurance companies contract with premium, respected LASIK providers to offer discounted rates to plan members. If your vision or health insurance plan doesn’t offer a discount with the provider you choose, the practice may offer a similar discount.Consider also participating in a health savings account (HSA) as a tax-free option to help pay for a LASIK procedure. The tax savings serve as additional savings, because the contributions are not subject to payroll taxes. Also, pretax income is used to help pay for health expenses not covered by a health plan. If you qualify for an HSA and are enrolled in a high deductible health plan, funds from the HSA could be used to pay for qualified medical expenses, such as LASIK, without federal tax liability. Some employers even contribute to the plan, making it an even better option. If you choose a premium LASIK provider and use HSA funds to pay for the procedure, the provider manages the paperwork and other insurance logistics. All you have to do is give the provider your HSA debit card once, and the rest is taken care of. Additionally, HSA funds roll over from year to year — allowing you time to save enough to cover the cost of the entire LASIK procedure.

2. Turn to Uncle Sam.

Depending on your filing status, the cost of a LASIK procedure could be considered a tax-deductible medical expense. The deduction is based on how much you make before taxes and how much you spend on medical costs, including LASIK. Consult with a professional to determine if you qualify. Also consider that if you receive a tax refund, it could fully or partially fund LASIK costs.

3. Finance the procedure.

Options exist to reduce the upfront costs of LASIK by splitting them into affordable monthly payments. Premium LASIK providers will work with a health care financing company to provide financing options for their patients. Select LASIK practices offer “in-house” financing through their practice should a patient not be approved for financing through the traditional health care financing institution. A good LASIK provider will work with you to find the best option.Companies that provide LASIK financing offer a range of plans often spanning a few months to as long as five years, some without incurring extra costs. Interest rates vary based upon your credit rating and the financing company used, and sometimes a deposit is required. If you think there’s a chance you’ll pay off the loan in advance at some point, ensure there are no prepayment penalties.By exploring the best way to finance LASIK and factoring in the potential long-term savings on glasses and contacts, you may find it to be a sound investment.

Additional

*Individual results may vary. See Frequently Asked Questions for more information. Photography contains paid actors, not actual patients. Testimonials are from actual patients. Most recommended claim is based on a 2013 LasikPlus study of 500 respondents who received LASIK from various providers. Respondents treated at LasikPlus recommended their provider to their friends and family at a higher rate than patients of any other provider included in the study.

♥$250 per eye price applies to patients with qualifying insurance coverage receiving treatment for up to -1.00 diopter with up to -1.00 diopter of astigmatism, performed with the traditional excimer laser (Advantage Plan not available). Prices range between $247 and $2,299 per eye based on prescription, laser, Advantage Plan selected as well as patient's insurance coverage. Previous Laser Vision Correction of any kind are ineligible for $250 price offer. Not valid at LasikPlus locations in Ft.Lauderdale, FL, Oklahoma City, OK. Best price when compared with other national LASIK provider pricing advertised online as of 10/31/2014.

♦♦Savings is $600 ($300 per eye), or 15% off your custom treatment price, whichever results in the greatest savings. An active insurance card must be shown at the time of pre-op appointment to qualify. Only applies to LASIK or PRK. LASIK exams are free of charge. No coupons required. Discount cannot be combined with any other offers or discounts. Other medical exams are billable, may be covered by insurance and require a co-pay and deductible charges if applicable.

Managed Care members are those who are enrolled in a participating health or vision plan.

^ Limited time offer. Only available to members of participating health and vision plans, or members of LasikPlus partner companies, who schedule via their plan/ membership are entitled to this limited time offer. Savings is $400 per eye on a Custom Wavelight Treatment with Lifetime Advantage Plan. Discount may not be combined with any other discount.

**Medical exams will incur a charge that may be covered by insurance.

ƒSavings is 20% off standard price or 5% off promotional price of LASIK or PRK. Discount cannot be combined with any other offers or discounts. Public Service Personnel includes firefighters, police, EMT, paramedics, doctors, nurses, military personnel, and teachers. The person must provide valid proof of employment or service at the time of appointment in order to receive discount. Valid at participating locations only. Additional restrictions may apply. Ask your vision center for details.

**/‡Financing Options Guaranteed with Premier Pay in-house financing: Down payment amount varies from $0 to $1,000 per eye based on FICO score. The interest rate is based on program length and varies from 0% to 19.99% APR. A $25 set-up fee and $3 monthly processing fee may apply. No minimum purchase amount is required. Excludes Ft. Lauderdale, Northville/Shelby and Oklahoma City LasikPlus® locations.